Ashby runs a £148.8m equity income portfolio at LV= and Kim runs five managed portfolios, including the £36.9m balanced managed, £8.2m diversified income and £3.2m worldwide select funds. It is unclear whether principal fund manager Simon Brooks, who also works on the LV= multi-manager team, will be joining Threadneedle.

Money Marketing understands that Threadneedle is appointing a multi-manager specialist to work with its existing asset allocation team in the next few weeks.Threadneedle declined to comment.